“Too many Weaker References” – What does that actually mean? It means more of short term buyers behavior at every dip where they come and pile at very mechanical references. Those are the references which are often susceptible to retest and at times faster. when the weaker reference levels are exponential it indicates that short term inventory is getting long to too long and the revisiting odds of all those references significantly increased.
This is the short post to let you know that I’ll be speaking at Traderscarnival 2018 Conference about Crowd Intelligence and Market Profile. The Traders Carnival Conference that will be held at Mumbai at The Renaissance, Powai, at the financial hub of the country, May 25 to 27, 2018.
Will be presenting a webinar on How to use Bell Market Profile Pro (New Features) and how to analyze Nifty and Bank Nifty Futures using Market Profile and how to take advantage of new Market Profile features in Ninjatrader 8 platform.
Inventory adjustment occurs especially when the market participants goes too long or too short. Short term Inventory Adjustment will be realized in the market either in the form of short covering or long liquidation breaks. Understanding the Long Term, Short Term, Day timeframe inventory conditions will give the true edge from both the trader/investor perspective.
On Fridays trading session price opened lower though the trading sentiment on Fridays trading session is positive price maintained to close below thursdays pullback low reference. Value formed lower to overlapping and trading sentiment turned to negative despite one timeframing higher for 5 consecutive trading sessions on Daily timeframe.
Volume profile is a key study when comes to understanding the auction trading process. Volume Profiles will show you exactly how much volume, as well as relative volume, occurred at each price as well as the exact number of contracts for the entire session. It is a visualization tool to understand the high activity zone and low activity zone.
On Mondays trading session price is able to find a new higher equilibrium compare to the Fridays session as value is created higher and market sentiment too revived to positive mode despite Fridays negative close. Entire June trading session is so far in a compressed 100 point trading range between 9600-9700.
On Mondays trading session price is able to accept below the Spike base which we discussed on last preparation. Price was trading around the days open most of the time and also price was moving back and forth around the prev week low which is not a sign of high confidence selling on mondays trading session. Finally price manage to close above prev week low (9619.5).
Video log on how to prepare for 12th June 2017 Nifty future trading. Here is the quick summary of what is discussed in the video. From the Top down analysis monthly timeframe is up and trending higher not much weakness seen, weekly timeframe is up (sentiment is up as well) and also week range is very thin 85point range. However daly timeframe is in balancing mode for last 6 trading sessions as the volatility in the markets remains low.
One of the Patterns one have to watch out when there is a four day balance formation followed by a trending breakout. Breakout generally happens especially post a news event or a short covering despite strong negative sentiment, long liquidation despite strong positive sentiment.
I will be speaking at 42nd ATMA Bengaluru Educational Meeting on Introduction to Market Profile and will be sharing my trading experience on how to understand and apply in real life intraday/positional trading.
We had already wrote couple of tutorials on Market Profile which could improve your understanding about Market Profile and helps you to organize the market generated information in a better way than any other trader. This time we are inviting Ninjatrader Ecosystem partner Vinod (Founder – BellTPO) for a live discussion on the basic concepts of Market Profile and Trade Setups.